BSBMKG506 Bounce Fitness in Maturity Market Research Plan.docx

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MARKET RESEARCH PLAN BOUNCE FITNESS CARMELO SIRACUSANO
o Aims and Objectives (150-200 words) Market research provides an organisation or business with the information that is current, accurate, reliable, relevant and valid. Its primary function lies in identifying the root causes of business issues that have yet to be detected previously and enhance such shortcomings. Therefore, it could be seen as a systematic collection and interpretation of information and data that an organisation need to solve business problems and make operational and strategic decisions such as the following: Products and/or services offered. Target customer segmentations and preferences. Target market scope. How to promote and distribute the required products and/or services. Competitor analysis. Market approach methodology and other promotion methods. Any new products and/or services required to be developed for improvement. The company has not previously undertaken formal market research. The research is now required to assist in growing the company through identification of new products and/or new markets. GOALS AND OBJECTIVES: o Make the Bounce Fitness increase sales as 30% in 2018 financial year o Gain reputation as well-known fitness from the survey at least 9 in 10 people o Increase brand recognition o Increase market share o Background Analysis (150-200 words) Bounce fitness is one best fitness practices operated which is complies with all the legislative requirement. It was establish by Margaret House in 2001 as a single rental aerobic studio, and after 2 years of membership ,and being successful business ,the organization decide to purchase its own land to build a new facility .In 2004 , a second centre was in leased premises in Brisbane an then Sydney and Melbourne. Each centre has a manager who reports to the CEO in Cairns and a team of permanently employed fitness instructors. The classes are innovative and varied with regular changes to routines and activities, they have small retailed shop in each centres and the organisation try to make as much as comfortable for customer e.g. carpeted ,well spacious, well ventilated ,mirrors walls ,showers ,toilet and have a locker. Bounce Fitness has developed choreographed fitness moves with accompanying music which is geared to the varying interests, needs and goals of the member group. It is intended that all
around Australia, gym and fitness center members will continue to be enhancing personal performance through classes designed and produced by this business. Classes are coupled with state-of-the-art fitness equipment to cater to those who prefer resistance training to aerobic workouts. Additional free weights allow for use by even die-hard lifters. Each centre sells membership to 120 %.This means that at peak times it could be quite crowded, but experience demonstrates that there is a maximum of 80% usage.

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